Based on the u-5 and u-6 the real unemployment rate is between 11-17%. If the engine of the American economy is consumer spending, how is going to happen.
unemployment is a lagging indicator...we've had unemployment numbers like this before, and we've managed our way back....the momentum on coming back happens as the unemployment is surging, actually.
467,000, which I believe was over 100,000 over the prediction. However the unemployment rate was what they predicted. I wonder if the job loss number is a net total combined with people who may have been hired.
I think it only measures the kids who are actively looking for work. The ones that tried and then gave up are not included. Also not included are those kids who have turned to selling drugs or committing crimes in order to afford the latest Transformer toy.
